June 15, 2010

Legislative Session Ends Without Plan to Eliminate Deficit

News:

 

The legislative season ended the first week of June, and the McGuinty government failed to address the deficit which his government created. The McGuinty government wracked up a $21.3 billion deficit, and will have single handedly doubled Ontario’s debt by 2012-13, since being first elected in 2003.

The 2010 budget failed to provide any concrete evidence that the McGuinty government plans to balance the budget. What was presented to the people of Ontario was an eight year plan- a period of time longer than the average business cycle of boom and bust. This means that before the government can get back to a balanced budget, they will have to avoid any other financial slowdowns in the economy.

In the meantime, the Liberal government is not showing signs of slowing their spending. The 2010 budget demonstrates that the government has set a record for revenue collected, but has squandered all of it by creating an equally large record of spending.

Quotes:

 

“The one thing we really wanted from the budget, a plan to balance the books, was completely missing. We got an eight year plan, which is contingent on so many things not going wrong.”
--Norm Miller, MPP Parry Sound – Muskoka

“When will the McGuinty government realize they do not have a revenue problem, they have a spending problem. This legislative session proved they cannot control their spending. I am curious as to what new tax measures they will introduce next year to pay for all of their new programs.”
--Norm Miller, MPP Parry Sound – Muskoka